How to fill the chart out? questions to go along with graph- 1- How long does it take to take pay off the higher interest card? 2- What is the amount of the last payment on the higher-intrest card? why? 3-at the end of the month that you pay off the higher intrest card, after you have started to pay down your debt on the lower intrest card, what is the balence of the lower intrest card? why? then- rework the problem so you pay the lower intrest card first. How much money do you save by paying off the higher intrest card first?
How to fill the chart out?
questions to go along with graph-
1- How long does it take to take pay off the higher interest card?
2- What is the amount of the last payment on the higher-intrest card? why?
3-at the end of the month that you pay off the higher intrest card, after you have started to pay down your debt on the lower intrest card, what is the balence of the lower intrest card? why?
then- rework the problem so you pay the lower intrest card first.
How much money do you save by paying off the higher intrest card first?
Credit Card dues:
When an individual holds two or more credit cards, the dues of all credit cards have to be met.
Generally, it is considered prudent to pay off the credit card that carries the higher interest first and then pay off the card with the lower interest rate.
This is because greater balances in the card with a higher rate of interest will attract more interest on the outstanding balance and will take a longer time, and prove more expensive to settle completely.
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